Thursday, October 30, 2014

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Forbes Ranks Knicks as Most Valuable Franchise in NBA; Nets Ranked Fifth

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TWC News: Forbes Ranks Knicks as Most Valuable Franchise in NBA; Nets Ranked Fifth
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Despite their losing record, Forbes Magazine says the Knicks are the most valuable franchise in the NBA.

This is the second year in a row that the Knicks have topped the list.

They are valued at $1.4 billion, up from $1.1 billion last year.

Forbes says that the renovation of Madison Square Garden helped the Knicks attain an all-time record profit of $96 million last season.

The Nets, meanwhile, are fifth on the list with a value of $780 million, up from $530 million last year, when they were ranked ninth.

Also making the top five were the Lakers, Bulls, and Celtics.

None of the teams in the top five currently have a winning record.

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